Shipments of Arm chips hit a new record, with the company's partners shipping nearly one chip for every human on the planet.

In Q1 2022, the partners shipped 7.4 billion Arm-based chips, up seven percent year-over-year. This makes the fourth quarter where more than seven billion Arm-based chips shipped.

“Arm continues to enable our ecosystem with compute performance and efficiency leadership through a transformed strategy," Rene Haas, Arm's CEO, said.

"Together, we are meeting the insatiable demand for compute and defining the future of computing that will power the next great technology revolutions on Arm.”

Haas was appointed CEO of the company in February after Nvidia's acquisition of Arm collapsed due to regulatory blocks.

The company then began preparing for an IPO, with Haas claiming "Arm’s market opportunity has never been greater." However, just a month later, the new CEO said he planned to lay off 12-15 percent of Arm's staff.

In Q1, Arm reported revenues of $719 million, up six percent year-over-year. Earnings before income tax, depreciation and amortization grew 31 percent to $414 million.